Vietnam lures increased investment to innovation, startups

Vietnam is taking advantage of investment opportunities in innovation and startups, heard the Vietnam Venture Summit held by the National Innovation Centre (NIC) and the Golden Gate Ventures on October 30.

NIC Director Vu Quoc Huy said that during discussion sessions, speakers discussed urgent issues related to innovation and startups in the region and Vietnam, thus providing multi-dimensional perspectives to guide investment strategies for startups in the Southeast Asian nation.

Deputy Minister of Planning and Investment Tran Duy Dong said that Vietnam faces a lot of challenges and also opportunities.

To take advantage of opportunities, it is necessary to clearly understand the challenges, Dong stated. That is why they chose the theme "Innovating through Adversity: Strategies for a Transformative Vietnam”.

Delano Musafer, Head of Asia-Pacific Capital Markets on the New York Stock Exchange, said that Vietnam has emerged rapidly not only in Asia but also in the global market. Many investors are paying attention to quality companies with strong transformation strategies and high growth rates, and that is a positive signal for Vietnam as it provides a clear strategy for domestic and foreign markets.

The Vietnamese innovation and startup ecosystem is on the rise, now ranked 46th out of the 132 countries and economies according to the 2023 Global Innovation Index. It is one of the three countries with innovation results superior to the level of development for 13 consecutive years.

Vietnam's startup ecosystem has increased from the fifth to the third position among the top six economies in Southeast Asia, reflected in the ratio of capital invested in the innovation startup market as well as the number of investors and investment funds operating in the country.

In the first half of this year, investment in the technology sector in Vietnam still ranked third in Southeast Asia, with a total capital of 413 million USD.